Apple is lobbying to use Chinese memory chips in products sold outside the US to cut costs, while supplier Micron Technology is pushing to block it, the Wall Street Journal reported. CEO Tim Cook pitched Trump and officials including Howard Lutnick and Scott Bessent on sourcing from China's CXMT and YMTC. The clash pits two of Trump's priorities against each other.
Bahrain and Kuwait secretly carried out airstrikes inside Iran earlier this month, their first known direct action against Tehran, The Wall Street Journal reported. Citing people familiar with the matter, it said the strikes hit drone and missile storage and military sites, with the UAE providing intelligence and air cover. The two acted after repeated Iranian attacks amid the escalating US-Iran conflict.
Intel on Thursday projected third-quarter revenue of $15.8 billion to $16.8 billion, topping analysts' $15.1 billion estimate, and lifted its two-year spending plans as an AI data-centre buildout revives demand for its processors. The chipmaker's shares, down 2.3% at Thursday's close, jumped over 8% after hours. Intel cited surging appetite for CPUs powering agentic AI systems that autonomously handle coding tasks.
A senior Iranian official told Reuters that mediators have proposed a 10-day ceasefire to give room for reviving last month's interim understanding with Washington, as fighting entered a second week. The Wall Street Journal named Qatar and Pakistan as the main brokers, with Qatar also seeking an end to shipping curbs in the Strait of Hormuz, where traffic has fallen to around 10 vessels a day.
US indices opened firmer on Monday as semiconductor shares recovered from last week's steep selloff, with traders positioning ahead of quarterly results from the largest technology companies. At the open the Nasdaq Composite added 200.6 points to 25,720, a gain of 0.79%, while the S&P 500 rose 31.5 points to 7,489. The Dow was barely changed at 52,154.
Quarterly results from Alphabet, Intel and Tesla will dominate Wall Street's attention in the coming week. The economic data calendar is comparatively light, but several reports could still move sentiment. Investors are watching the technology heavyweights closely for signals on AI-related spending and demand across the sector.